Amdocs Limited $DOX Stock Holdings Reduced by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman cut its Amdocs stake by 6.5% in the third quarter, selling 301,094 shares. It still held 4.31 million shares, worth about $246.6 million, and Amdocs remained 1.9% of its portfolio.
• Analyst sentiment was mostly neutral: the consensus rating was Hold, with a $78.33 average price target. The stock opened at $41.74, near its reported 52-week low of $40.48.
• Amdocs met quarterly earnings expectations at $1.98 per share, while revenue rose 3.8% year over year to $1.19 billion. The company also announced a quarterly dividend of $0.569 per share, equivalent to a 5.5% yield.

Beutel Goodman & Co Ltd. lowered its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 6.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,313,065 shares of the technology company's stock after selling 301,094 shares during the quarter. Amdocs comprises 1.9% of Beutel Goodman & Co Ltd.'s portfolio, making the stock its 20th biggest holding. Beutel Goodman & Co Ltd. owned 4.00% of Amdocs worth $246,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Amdocs by 16.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock valued at $74,000 after acquiring an additional 182 shares during the period. Alpine Bank Wealth Management lifted its holdings in Amdocs by 58.2% during the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company's stock valued at $29,000 after purchasing an additional 184 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Amdocs by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 6,443 shares of the technology company's stock worth $420,000 after purchasing an additional 218 shares during the period. Covestor Ltd increased its stake in shares of Amdocs by 11.8% in the third quarter. Covestor Ltd now owns 2,461 shares of the technology company's stock worth $141,000 after purchasing an additional 259 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in shares of Amdocs by 8.5% in the second quarter. Fulton Bank N.A. now owns 4,667 shares of the technology company's stock worth $236,000 after purchasing an additional 367 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DOX. Stifel Nicolaus lowered their target price on shares of Amdocs from $71.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, November 4th. Weiss Ratings upgraded Amdocs from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. Oppenheimer lowered Amdocs from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 4th. Finally, Wall Street Zen cut Amdocs from a "buy" rating to a "hold" rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $78.33.

Amdocs Price Performance

DOX stock opened at $41.74 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. The company's fifty day moving average price is $59.07 and its 200-day moving average price is $61.77. Amdocs Limited has a one year low of $40.48 and a one year high of $85.63. The company has a market capitalization of $4.51 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.70 and a beta of 0.42.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.98 EPS for the quarter, hitting the consensus estimate of $1.98. Amdocs had a net margin of 10.59% and a return on equity of 20.70%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The business's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Amdocs Limited will post 7.12 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.5690 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, December 31st. Amdocs's dividend payout ratio is 48.82%.

Amdocs Company Profile

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